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Qualification Shares:
S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.
Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).
2. S.186 : Age Limit
S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-
a) He has not attained the age of twenty-one; or
b) b) he has attained the age of seventy.
Disadvantages of Statute Law: Imposition of law However some Acts are imposed on the people and reflect the views of the pundits or Executive in the ruling political part
Q. Impact on businesses of phoenix activity? In 1996 the Australian Securities Commission (ASC), published a report on phoenix activity titled Phoenix Activities and Insolvent
State about the Median Voter Theorem Percentage of vote necessary for a proposal to be adopted, remember Median Voter Theorem, will affect the difficult of adopting a proposal,
QUESTION 1 Successful Contract Administration requires the preparation of a good contract management plan. Describe the steps undertaken to prepare such a plan? QUESTION 2
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